Point72 Asset Management L.P. Acquires 1,090,661 Shares of Xerox Holdings Co. (NYSE:XRX)

Point72 Asset Management L.P. boosted its holdings in shares of Xerox Holdings Co. (NYSE:XRX) by 2,846.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,128,973 shares of the information technology services provider’s stock after purchasing an additional 1,090,661 shares during the period. Point72 Asset Management L.P. owned 0.91% of Xerox worth $9,517,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Picton Mahoney Asset Management increased its stake in shares of Xerox by 330.5% in the fourth quarter. Picton Mahoney Asset Management now owns 3,758 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 2,885 shares in the last quarter. TD Waterhouse Canada Inc. acquired a new stake in Xerox in the 4th quarter valued at about $51,000. KBC Group NV increased its position in Xerox by 84.5% in the 4th quarter. KBC Group NV now owns 9,223 shares of the information technology services provider’s stock valued at $78,000 after acquiring an additional 4,224 shares in the last quarter. Marathon Trading Investment Management LLC bought a new position in shares of Xerox in the fourth quarter worth about $84,000. Finally, Sterling Capital Management LLC lifted its position in shares of Xerox by 48.9% during the fourth quarter. Sterling Capital Management LLC now owns 10,106 shares of the information technology services provider’s stock worth $85,000 after purchasing an additional 3,319 shares in the last quarter. Institutional investors own 85.36% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Xerox from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Three research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $9.50.

Xerox Stock Performance

Shares of NYSE:XRX opened at $5.54 on Monday. The company has a current ratio of 1.11, a quick ratio of 0.84 and a debt-to-equity ratio of 2.61. Xerox Holdings Co. has a 1-year low of $3.45 and a 1-year high of $14.81. The stock has a market capitalization of $696.88 million, a P/E ratio of -0.52 and a beta of 1.75. The business has a 50-day moving average price of $4.82 and a two-hundred day moving average price of $7.17.

Xerox (NYSE:XRX) last posted its quarterly earnings results on Thursday, May 1st. The information technology services provider reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). Xerox had a positive return on equity of 7.57% and a negative net margin of 21.24%. During the same quarter in the prior year, the company earned $0.06 EPS. Xerox’s revenue was down 3.0% compared to the same quarter last year. Equities analysts predict that Xerox Holdings Co. will post 1.07 earnings per share for the current year.

Xerox Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.50 annualized dividend and a dividend yield of 9.03%. Xerox’s payout ratio is currently -4.74%.

About Xerox

Xerox Holdings Corporation, together with its subsidiaries, operates as a workplace technology company that integrates hardware, services, and software for enterprises in the Americas, Europe, the Middle East, Africa, India, and internationally. The company operates through two segments, Print and Other; and FITTLE.